EU Says Monsanto Plans to Withdraw Applications for GM Crops

July 18 (Bloomberg) -- The European Commission was informed yesterday by Monsanto Co. that it plans to withdraw its applications for approval of genetically modified crops in the bloc, according to commission spokesman Frederic Vincent.

Monsanto had the majority of applications pending with the commission, Vincent said by phone today from Brussels.

Monsanto will keep its bid to renew MON810 corn, which was previouly approved in the European Union, said Mark Buckingham, a company spokesman in Cambourne, England. "It’s clear there isn’t a path to market and commercialize GM products for cultivation in Europe," he said. "We need to focus our limited resources where we can get the best return. In Europe, there are significant opportunities in conventional breeding."

--Editors: Claudia Carpenter, Dan Weeks

To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net